6 Employee Retention Strategies That Work

Wouldn’t you love to hold onto those great workers for longer? These are the people who turn up on time every day and go above and beyond for their jobs. As employers and human resources well know, these sorts of people are not easily replaced. Luckily, good staff retention strategies can help you keep these quality employees, longer.

Career Developement

Great employees are good at what they do because they take their job seriously. They see a career in what they’re doing, and they want the challenges and rewards of pursuing that career. Pave a clear career path for your employees. Give them the space they need to grow while working for you.

Remuneration

Next to career growth and professional development, a salary is among the most important of your employees needs. A salary is not just what your employee needs to pay the bills, it’s a token of their achievements on the job. Remuneration should be competitive to reflect industry standards, and it should increase regularly to keep your employees engaged.

Benefits

If your staff were bragging about their job to their friends, what would they say? Does your company offer things like flexible hours, childcare and gym memberships? Try offering a benefits package that is truly beneficial, and if you’re unsure of what this would look like, it never hurts to ask.

Recognition

Recognition of good work starts with simple praise and a thank you, but at the end of the day, recognition should take more tangible forms to be truly felt. If your promotions involve grand-sounding titles with added responsibilities and no financial reward, then you may need to rethink your staff retention strategy. Recognition might take the form of gifts, bonuses and vouchers, or remuneration for courses and classes.

Expectations

Employees tend to disengage with their jobs and their employees when there is confusion as to what is expected of them and what their responsibilities involve. Make sure your staff have a clear understanding of their duties, as well as the performance metrics against which they’ll be evaluated. Do this and you can not only retain good staff, but turn a floundering and frustrated worker into a star employee.

Meaningful work

Today more than ever before, workers are pursuing meaningful work. Work is meaningful when it has a wider social value or in some way contributes to the community. You don’t have to be running a charity foundation to offer your employees meaningful work. Facilitate bonding among employees, get involved in social or philanthropic programs, and cultivate a shared company vision to give your employees meaningful work.

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